Problem $2-18$ Functions of Financial Markets $($LO$3)$ Source: ICE Bank of America Merrill Lynch indices.

Consider the table shown below to answer the question posed in part a$.$ Parts b and c are independent of the given table.

a$.$ The price of Yuml Brands stock has risen to $$160.$ What is the market value of the firm's equity If the number of outstanding

shares does not change?

Note: Enter your answer in dollars not in billions of dollars.

b$.$ The rating agency has revised Catalytic Concepts' bond rating to AAA $($use Iable $2\mathrm{.}2).$ What interest rate, approximately, would

the company now need to pay on its bonds?

Note: Enter your answer as a percent rounded to $1$ decimal place.

c$.$ A farmer and a meatpacker uso the commodity markets to reduce their risk. One agrees to buy live cattle in the future at a fored

price, and the other agrees to sell. Which one sells?

Answer is complete but not entirely correct.